EHang (NASDAQ:EH) Stock Price Down 2.9% – Should You Sell?

EHang Holdings Limited (NASDAQ:EH) traded down 2.9% during trading on Wednesday . The stock traded as low as $23.17 and last traded at $23.98. 804,943 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 1,675,024 shares. The stock had previously closed at $24.68.

Wall Street Analyst Weigh In

Separately, CICC Research initiated coverage on shares of EHang in a research report on Thursday, January 2nd. They set an “outperform” rating for the company.

EHang Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39. The stock has a 50 day moving average of $20.21 and a 200 day moving average of $16.98. The stock has a market capitalization of $1.52 billion, a P/E ratio of -44.23 and a beta of 0.91.

Hedge Funds Weigh In On EHang

Several institutional investors have recently modified their holdings of the company. Natixis acquired a new stake in shares of EHang during the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC lifted its holdings in shares of EHang by 247.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after purchasing an additional 1,472 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of EHang during the fourth quarter valued at $79,000. Point72 Asset Management L.P. purchased a new stake in EHang in the 3rd quarter worth about $104,000. Finally, Point72 Hong Kong Ltd acquired a new stake in EHang during the 3rd quarter worth about $118,000. Institutional investors own 94.03% of the company’s stock.

About EHang

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.